ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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The Benz and the Banjara

Benz at 7%, Tractors 15.9%—Loans in Aurangabad

Tractor loans at 15.9 per cent trapped Aurangabad farmers like Hirabai in debt. But Mercedes Benz loans in Aurangabad were going for 7 per cent at the same time. Yet, sales of both were seen as rural progress

This article was first published on the People's Archive of Rural India website.

 

Hirabai Fakira Rathod was talked into buying a new vehicle in 2010 when many banks were on a tractor loan spree. The salesman at the tractor shop had told me that it was very easy to get and repay this loan, she told us at her rundown dwelling in Kannad tehsil of Aurangabad district. The local branch of the State Bank of Hyderabad also processed the loan swiftly. Hirabai, whose husband is a retired forest guard, is a Banjara Adivasi and her large family held 3.5 acres in the same tehsil. The idea was we could use it ourselves and also earn a bit more deploying it on other farms, she says.

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